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Category Archives: Global Economy

Oil prices stabilise on lower US rig count, but global glut still weighs

With production outpacing demand by 1 million to 2 million barrels every day, crude prices have fallen around 70 percent since mid-2014, reports Reuters Oil prices partly recovered on Monday following steep losses in the previous session, supported by a fall in the number of US production rigs in use, but analysts said general oversupply was keeping the market weak. ... Read More »

Oil market shows deep doubt over output freeze

The oil world has been shaken this week by some of the biggest producers agreeing to freeze their output at January levels to contain a supply glut and prevent a further slide in prices, but markets show investors doubt this tactic will work, reports  The oil ministers of top exporter Saudi Arabia, Qatar and Venezuela, together with non-OPEC member ... Read More »

India to expand petrochemical industries in n-w to tap markets in neighbouring countries

India has chalked out a ‘well documented’ strategy to expand its hydrocarbon and petrochemical industries in its northeastern region to tap markets in neighbouring countries like Bangladesh, Myanmar, Nepal, Bhutan and Thailand, reports To leverage the hydrocarbon sector of India’s north eastern states, the government released a ‘Hydrocarbon Vision 2030’. “To achieve the vision, a collaborative effort of central ... Read More »

Google boss becomes highest-paid in US

BBC Online The chief executive of Google, Sundar Pichai, has been awarded $199m (£138m) in shares, a regulatory filing has revealed. It makes him the highest-paid chief executive in the US. Mr Pichai became chief executive of the search engine giant following the creation of its parent, Alphabet. The founders of Google, Larry Page and Sergey Brin, have amassed fortunes ... Read More »

Bumper US payrolls push global stocks , dollar higher

Forecast-beating US jobs numbers sent global stocks and the dollar higher on Friday, extending gains after Chinese markets stabilized and a tentative recovery in oil prices helped calm frazzled investors, reports The US employment data showed a bumper 292,000 jobs were added in December, topping expectations of 200,000 by economists polled by Reuters, The unemployment rate held steady at ... Read More »

China’s stocks start the week with sharp losses

BBC Online Chinese shares finished with steep losses on Monday as jitters continued after last week’s market gyrations. The Shanghai Composite closed down 5.3% at 3,016.7 points. In Hong Kong the benchmark Hang Seng index closed down 2.8% at 19,888.5. Investors are keeping a close eye on movements in the Chinese currency, which is managed by the government. The guidance ... Read More »

Asian shares in for worst week in four years on panic over China

Asian shares are on course to post their biggest weekly fall in more than four years as investors dumped risk assets on fears over China’s economy and its turbulent financial markets, reports China announced late on Thursday it suspended its new stock market circuit breaker introduced only on Monday as the system failed to reduce market volatility, with some ... Read More »

Taka getting stronger as BB buys US dollars The Taka-dollar exchange rates have come down as the Bangladesh Bank has started to buy the greenback from the local currency market.Over the last one month, the rate for one US dollar has dropped by Tk 0.45. On Monday, the central bank bought $25 million at Tk 78.50 per dollar. The exchange rate was Tk 78.95 a month ago. ... Read More »

Financial markets hit by global unease

BBC Online Stock markets have fallen after a sharp decline in Chinese shares, while oil and gold prices have increased as tensions rise in the Middle East. Trading in China’s main stock markets ended early on Monday after the indexes tumbled 7%. Europe’s main stock markets followed Asia lower, with the FTSE 100 sinking 2.4% and Germany’s Dax index down ... Read More »

Investors look to January effect at start of 2016

As Wall Street wraps up its flattest year since 2011, investors will have to deal with many of the same issues next year as they attempt to gauge market direction, reports  While many market participants have a host of worries heading into 2016 that could hurt stocks and keep volatility high, they remain optimistic for gains in 2016 and ... Read More »